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Online Security

We flag some of the different approaches to online fraud, and offer some tips on how to avoid becoming a victim.

If you think you may be a victim of fraud, please contact us immediately on +44 (0)1624 645000 Monday to Friday, 8am to 8pm (UK time), except for UK public holidays. At all other times, please use the out of office number of +44 (0)20 8167 3223.

Types of fraud

This is where scammers use online information or conversations to gather personal information, and then use this information to ask you to confirm your identity.

 

By using specific details about you, the criminal can be very convincing and trick people into divulging more information, such as account numbers, passwords and the answers to security questions.

A form of social engineering, phishing is either generic or specific, and takes on many forms. They all essentially seek the same outcome, i.e. that you reveal sensitive or confidential personal information by:

 

  • Threatening to revoke access to your account if you do not act immediately
  • Promising you a reward for logging into your account via the link provided
  • Indicating there is a confidential update that you can only retrieve by entering in your credentials
  • Physically getting you to do something, e.g. allow access to a building
  • Inducing you to download a file that contains malicious software (malware).

 

As mentioned, phishing can be across different channels, including:

  • Smishing, which is where people are targeted by text or SMS messages
  • Spear-phishing (also known as whaling), which is a highly targeted phishing attack masquerading as a legitimate email
  • Vishing, which is by phone or voice.

Often used in conjunction with social engineering, spoofing recreates emails, text messages and phone calls to deceive the recipients. Email addresses – from third parties or within your company – can be spoofed, as can phone extensions.

Malware is software that is designed to steal information or money. There are broadly four types of mal(icious) + (soft)ware:

 

  1. Viruses: attached to a separate piece of software, it reproduces and ‘infects’ when that software is run
  2. Worms: these are similar to viruses, but don’t need human interaction to cause damage
  3. Trojans: as with the original wooden horse, these appear to be legitimate pieces of software that allow criminals access to information
  4. Grayware: these are unwanted applications that limit the performance of computers and systems, leading to security risks.

 

Ransomware (where you need to pay a ransom to enable it to be removed) and spyware (hidden programs that collect information to distribute via the internet to criminals) are the most concerning of all malware.

How to protect yourself

We do our utmost to protect you from fraud, and it is why we often call you back on the contact number we hold for you to verify instructions.

We will never ask you for your personal or security details, such as your full passwords, Visa PINs, or the names of authorised signatories on your account, either by email or by telephone.

Use our mobile app or online banking service to make payments, transfers and exchange currencies. This is the most secure and fastest way of transacting, and more information is available here.

 

You can also use Qwil, the secure messaging app, to communicate with the team, receive documents and stay in touch, regardless of your location.

Regularly check your financial transactions on all your bank accounts, either on printed statements or, better still, more frequently online.

 

If you are contacted by anyone identifying themselves as a Nedbank Private Wealth representative, but they do not follow our usual procedures, hang up and call Nedbank Private Wealth on the number you usually use.

It is important to remember that emails are not secure. Please avoid sending any personal or confidential information by email.

 

Protect your devices by installing and updating anti-virus software, and be wary of using public WiFi.

 

Strong passwords include letters, numbers, capitals and special characters – the longer the better as the picture below shows:

Cash machines (ATMs) can be used to access your secure data through hidden cameras to collect your pin, before the machine retains your card. If your Visa Platinum card is retained by a machine, please call us immediately.

 

Scams by retail or hospitality staff  who take your card out of sight and copy them are more common than you might think. If you think your Visa Platinum card may have been copied, please call us immediately.

Always look for the padlock symbol next to a web address. This should mean that your connection is encrypted and your login information cannot be intercepted.

 

Your online login details are unique and you should never share details, passwords or PINs with anybody else. Passwords and PINs should be regularly updated and always use different passwords for different accounts. If you need to store them, please use a password vault.

Get in touch

If you are interested in becoming a client, please complete the form via the ‘become a client’ button below. Alternatively, if you are already a client, or if you have a question about how we help clients in particular circumstances, please use the ‘contact us’ button.

 

We will get back to you as soon as we can during office hours, which are Monday to Friday, 8am to 8pm (UK time), except for UK public holidays.

Become a Client

Thank you for your interest in Nedbank Private Wealth. Please call us on +44 (0)1624 645000 or complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.

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Contact Us

Give us a call today on +44 (0)1624 645000 or please complete the requested information and one of our team will get back to you soon. We look forward to speaking with you.

Our office hours are weekdays from 8am to 8pm UK time, except for UK public holidays.

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